Market Outlook 29/07/08

Market may open low today....

Market closed flat yesterday ahead of the RBI monetary policy today.Today, global cues are negative as Dow Jones industrial average fell 239.61, to 11,131.08.Monday's pall over the market wasn't solely because of flagging confidence in the financial sector. Investors are also waiting to see whether oil prices' sharp drop of recent weeks has come to an end, or is just pausing. Light, sweet crude rose $1.47 to settle at $124.73 on the New York Mercantile Exchange.Gold gained on Tuesday as crude oil rose after militant attacks cut Nigerian output, elevating the metal's appeal as a hedge against inflation. Gold rose to $932.30/933.30 an ounce from $928.45/929.65 late in New York on Monday, when it rose more than $1 an ounce.Reserve Bank of India (RBI) has said potential inflationary pressures from international food and energy prices appear to have amplified. By current indications, it said, they are likely to remain for some time.So, for today, with all these negative cues, we might open gap down or will fall down from high's againBelow 4300, nifty has only 2 strong supports at 4265 and 4220.Nifty will be positive only above 4385.Till nifty is below 4385, it is weak only.

Stock watch for the day:

Reliance Capital (1312): Short this stock at higher levels with stop loss 1342 for targets 1290-1275

Market Outlook 18/07/08

Upmove to continue today also

Yesterday it was a very good day for indian market as market zoomed and closed bullish and bullish move is expected to continue today also.Oil prices tumbled below $130 a barrel for the first time in more than a month Thursday, as crude's dramatic slide entered a third day accompanied by a sharp sell-off in natural gas.Light, sweet crude for August delivery dropped $5.31 to settle at $129.29 a barrel on the New York Mercantile Exchange. Prices have fallen nearly $16 in just the past three days.Dow Jones industrial average rose more than 200 points to settle at 11,446.66.Advancing issues outpaced decliners by nearly 3 to 1 on the New York Stock Exchange, where consolidated volume came to 7.17 billion shares, compared with 6.58 billion shares traded Wednesday.For today, nifty will open gap up for sure and above 3970 will target 4000 first and then 4065 will be tested and if nifty remains above 4000, it will remain explosive today and below 4000, 3970 will act as good support and if breaks that 3900 will be the strongest support for today.Coming week will be very crucial for indian market again as No-Confidence motion will be put up on 22nd tuesday and markets may move madly on that day as news keep poring in and if the government falls, it may trigger sharp sell off again.But for today, trend is very bullish.

Stock watch for the day:

Reliance Capital (1028): Buy this stock at dips with stop loss 1000 for target 1055-1075

Intraday call performance 17/07/08

Market bounce back strong with crude dip

As expected it was higher opening today because of positive global cues and strong European markets also added to positive sentiments. Though nifty went for some selling later, still held on to strong supports on downside and made a high of 4968 and even closed in positive territory again.Top gainers are Maruti Suzuki, HDFC, Jaiprakash Associates, BPCL and GAIL while Ranbaxy Labs, Tata Steel, Sterlite Industries and SAIL losers.Now, next few day's will bring in volatility again with top news is on Government-No-Confidence motion on 22nd which is very crucial for the market survival.

Stock watch for the day:

Adlabs: This was given a buy call with stop loss 388 for target 410 and it made a high of 424

Following calls were given in yahoo messenger for clients:

Buy Nifty Futures around 3860 with stop loss 3838 and it made 3896 and gave cover order

Short Nifty Futures around 3900 with stop loss 3915 and it made 3865

Short Nifty Futures around 3925 with stop loss 3945 made 3888 and told to cover all position

Short Baja Hindustan around 154 with stop loss 156 for taregt 145 and it made 148

Short Bank of India around 236 with stop loss 237.5 and it made just 235 and then small stop loss hit

Short India Info around 615 with stop loss 618.5 for target 590-575 and it made 592

Short RPL around 153 with stop loss 157.5 for taregt 144 and it made 147

Short Reliance Infra at 794 stop 802 for target 774 and it hit the stop loss

Buy Reliance Capital at 1020 with stop loss 1006 and it made made 1030 and gave cover order around there

Market Outlook 17/07/08

Oil crashing down..is it one more manipulation now..!

Yesterday it was a bad day for indian market again as market went for deep selling and for today, positive global cues may result in higher opening. Light, sweet crude for August delivery fell $4.14 to settle at $134.60 a barrel on the New York Mercantile Exchange, after earlier sinking as low as $132. The drop follows a $6.44 sell-off Tuesday, crude's biggest since the Gulf War.The huge swings oil had in two day's is amazing as it dropped by more than $10 Tuesday and $7 Wednesday and it makes us think whether this is one more manipulation or is it really coming down..! The Dow took positives from this oil drop and rose 276.74 to 11,239.28. It was the blue-chips biggest one-day gain since April 1, when the index rose 391 points.The dollar was mixed against other major currencies, while gold prices fell. For today, be cautious if there is higher opening near 3900..- as remain below 3920, market is weak only and if nifty breaks 3920 then one more resistance is there at 3960.So, be cautious at higher levels and below 3900 supports are at 3850 and 3790.Inflation figures are expected to be announced later in the evening today.

Stock watch for the day:

Adlabs (395): Buy this with stop loss 388 for target 405-410

Market Outlook 14/07/08

Interesting week ahead for market

Market crashed on friday with high inflation and crude oil and will resume again today with weak global cues.The Dow Jones industrials on Friday briefly fell below 11,000 for the first time in two years settling at 11,100.54 and the oil prices on Friday soared to a new trading record above $147 a barrel, following the two-day pullback back of nearly $10 a barrel Monday and Tuesday.With political uncertainty continuing, indian stock market is weak and facing selling at every raise.This trend may continue till the day of vote of confidence motion.Investors seems to be more scared in investing now, though market is at an attractive lower end and in oversold condition. Market just needs one trigger to move strongly on upper side.But now, sentiments are negative and for today on upper side nifty will face definite resistance at 4090-4115 and on downside 3990 will be strong support for today and break below that may go to 3940 support.If there is lower opening above 3850 buying might come and don't short blindly on lower side.

Stock watch for the day:

BHEL (1521): Short this stock at higher levels with stop loss 1560 for target 1500-1480

Market Outlook 10/06/08

Time to pick up quality stocks..!

Atlast nifty broke 4440 strong support and it seemed like operators broke that support purposely to make a new low support and will be interesting to see today's moves now.For today, if nifty moves above 4545, it will test 4590 first and then testing of 4635 final strong support is on.But higher level will exert pressure for sure and more interesting part is to see the extent of pull back rally.Nifty remain below 4525 sentiments will remain weak and on downside 4575 will act as support and break below 4440 will be another big support to watch.Time for buying quality stocks at dips now and lots of money are waiting on the sidelines to be dumped in the stock market and there may be another big upmove shortly.Moreover Oil prices closed Monday at $134.35 a barrel, down from last week's high of $139.12 a barrel and if slides further will be good for the market.

Stock watch for the day:

RPL (171)-Short this with stop loss 181 for target 168-164.If moves above 182, dont short.